Fitch Expects More Russian Banks to Go Under in 2019

UrBC, Moscow, September 26, 2018. The international rating agency Fitch expects Russia’s banking sector to keep losing market players next year, TASS refers to the reports presented at a conference on the banking sector and the country’s microeconomic situation in Moscow on September 25 as indicating.

‘The Central Bank called off the licenses of thirty different banks in the six months of 2018. We expect this trend to continue in 2019 as well,’ Fitch explains.

Now Head of the Bank of Russia Elvira Nabiullina said in early September that the market had been cleaned from the better part of unscrupulous and weak banks by then, which was expected to boost healthy competition in the sector.